Credit union membership tops 100 million

[mahatmakanejeeves]

Last edited Fri Aug 15, 2014, 03:58 PM - Edit history (1)

About 100 million Americans are now using credit unions. Should you join them?

What to consider about rates and fees before joining

Wonkblog
By Jonnelle Marte August 5

Credit unions reached a new milestone in June when membership topped 100 million, the Credit Union National Association announced Tuesday.

The smaller, and often more personal, banking institutions, drew national attention in 2011 following "Bank Transfer Day," when a Facebook campaign started by consumers called on people to ditch their banks because some had proposed adding fees for debit card use. Credit unions reported a surge in customers seeking perks such as lower fees and better rates on loans and savings accounts. (Many banks later canceled the proposed fees.)

But the growth has kept on, with membership increasing by roughly 2 percent each year.

[Jackpine Radical]

1. I've been doing the credit union thing for about 4 decades.

[catrose]

2. Yes. Eom

[prairierose]

3. I've been with my credit union for about 12 years....

and will never go back to doing business with banksters. I tell everyone I meet that credit unions are the only place to bank. Although, if the USPS were allowed to do postal banking again, I might open a savings account there.